Citi has been appointed by William Blair & Company to provide offshore fund administration services for its Luxembourg-domiciled SICAV funds.
Citi will provide an integrated range of services including custody, trustee, fund accounting, transfer agency and foreign exchange solutions.
William Blair launched its Luxembourg-domiciled SICAV funds in 2004 to allow European investors access to its investment strategies. Since then, the funds have grown to nearly USD1.6bn in assets as of 31 December 2012.
“As our overseas business continues to grow, we are excited to partner with an experienced fund administrator with a global footprint to support our expansion plans while maximizing shareholder value,” says Rick Smirl, chief operating officer of William Blair Investment Management. “We are confident that Citi’s scalable fund services platform coupled with its global network will enable us to meet these goals.”
Citi’s full suite of investment service solutions delivered through Citi OpenInvestor lets managers focus on their core activities of managing assets and serving their clients.
“We are very pleased to support a growing and highly-respected fund manager such as William Blair and look forward to helping them grow their Luxembourg SICAV business,” says Sanjiv Sawhney, EMEA head of securities and fund services, Citi. "This mandate is further testament to the strength of our Luxembourg-based fund services platform.”